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Simple English definitions for legal terms

defeasance clause

Read a random definition: liber ruber scaccarii

A quick definition of defeasance clause:

A defeasance clause is a part of a mortgage agreement that says if the borrower pays back the loan on time, the lender's ownership of the property will be cancelled. This means that the borrower will fully own the property again.

A more thorough explanation:

A defeasance clause is a provision in a mortgage agreement that states that the transfer of ownership to the lender will be void if the borrower pays off the debt on time.

For example, let's say John takes out a mortgage to buy a house. The mortgage agreement includes a defeasance clause that states that if John pays off the mortgage in full by the due date, the lender will not have any claim to the property. This means that John will own the house outright and the lender will have no legal right to it.

Defeasance clauses are designed to protect borrowers from losing their property if they are able to pay off their debt on time. They give borrowers the peace of mind that comes with knowing that they will not lose their property if they are able to meet their financial obligations.

defaulter | defeasible

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

BulbasaurNoLikeCardio

10:34

@m10: 110% agree, china has a truly amazing HUMINT network and espionage skills that much of our military is infiltrated or committing willful negligence of duty in prevent and protection. @babycat: PSYOP is pretty small on the AD side but I left the community to go play with Apaches and drones in 2018/19

milktoast

10:35

Daily check in , stay chillin

Mostlylegal

10:35

anyone touring hls today?

FormerLN

10:35

Same @m10

glovediedthisishismom

10:35

https://open.spotify.com/track/5Ss6DqCldgTmIo6BekVOJT?si=2f204de5813148d7

Mostlylegal

10:36

also my softs are bordering t3-t2. would it be worth for me to R+R if im trying for t4

soap

10:36

Maybe see where you get in, then R&R if you feel it’s necessary?

m10

10:36

Psyop guys will try and convince you they are like secret masterminds. I had this one guy whose wife would call me every week and she would tell me about how her husband just like disappeared and could not be found cus he was a specialy trained psyop officer. I found his phone number and called him the same day online. That woman was gaslit so hard.

babycat

10:37

is t4 HYSC? yeah prob your odds are not too great for those with 3.7 and 171 unless you’re really extraordinary

WorthlessAttractiveZombie

10:37

I agree with soap on this one, just wait it out and see where you get into. You could always transfer (although I wouldn't go in with the intention of transferring)

soap

10:37

Transferring is hard and you don’t get money. I wouldn’t do anything with the intent of transferring

[] texaslawhopefully

10:38

Disagree with the transfer. But, yeah a 3.7, 171 is not HYSC material—so unless you’re a Rhodes scholar, or something it is highly unlikely.

JumpySubsequentDolphin

10:38

did he mean t14

JumpySubsequentDolphin

10:38

I’ve never heard anyone call it t4 hahah

JumpySubsequentDolphin

10:39

I thought it was always t6 and t3

soap

10:39

If you’re aiming for T14, that’s definitely doable

Mostlylegal

10:39

nah t4 is a thing, maybe old ive been on lsa and lsd for like 4 years now lol

m10

10:39

Fuck this all reminds me. I got to call and see if I am still being deposed.

JumpySubsequentDolphin

10:40

@Mostlylegal: oh oops hehe

BulbasaurNoLikeCardio

10:40

@m10: most of PSYOP are guys who failed SFAS and Ranger so much so they can't go back and think being SOCOM makes them SF. I loved the cultural side of it all, going to embassies and running influence operations. Doing KLEs and training with foreign militaries was amazing. Learned so much about the world by talking to those who live all over it. Then got lucky and worked with a Marine HIT overseas and would tag along when they kidnapped people to do some stuff lol The rest of the time was a lot of reports and KLEs

babycat

10:40

t4 is a concept being perpetuated by Big Chicago

soap

10:41

Chicago rejected me in undergrad, so I have beef

shaquilleoatmeal

10:41

Was there an hls ii wave yesterday?? Didn’t go online at all and feel out of the loop lmfao

m10

10:42

@BulbasaurNoLikeCardio: Did not know that but it makes sense. That sounds like a cool career. I would have liked to have done that too. I really would have just liked to have gone OCONUS once.

m10

10:44

I was talking to this 88H in a bar last weekend and he had some wild story about being interrogated by the FBI and CIA and shit to get a top-secret clearance or something so he could drive a forklift around Europe, Korea, and Africa. It sounded like a bunch of bullshit to me but do you know if something like that could be true?

babycat

10:45

@shaquilleoatmeal: yeah so I’ve heard

jackfrost11770

10:46

i don't know any of this military talk but i was going to be a combat medic or trauma surgeon for so long before i went this track lol, so my only exposure is seriously looking and visiting places like west point for recruitment lol. i speak russian so everyone always told me that raises your chances at those places lol

jackfrost11770

10:46

my brother is a combat medic too

BulbasaurNoLikeCardio

10:46

@m10: was a great career, the main job is being a cultural expert building rapport and relationships with foreign nationals, militaries and even people hostile to make the area safer and at times bring in the ODAs or three letter guys to train, arm and fund them to aid in their(our) cause. OCONUS is great but not necessary, I only did two real deployments but a lot of missions to places. That is all 110% BS. I have a TS-SCI, worked with federal agencies they do nothing crazy like that.

shaquilleoatmeal

10:47

Damn - 3rd invite missed smh no love for me from hls

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